Rotary tool users may couple a variety of bits to their tools. For example, a cutout tool may accept ⅛″ and ¼″ inch bits. Other rotary tools, such as a laminate trimmer, or a drywall router, may also accept a range of different-sized bits depending on the particular job being performed. Also, rotary tools may employ various types of bits, each bit suited for use with a particular material, such as aluminum, steel, hard wood, or soft wood. Because rotary tool users are frequently required to change the size or type of bit to adapt the tool to the job being performed, or to replace bits that have become dull, there is a corresponding need for a system that makes bit replacement quick and easy.
Currently, many rotary tools employ a system that requires a separate wrench, commonly referred to as a “key”, to replace bits. The key must be inserted into a collet and turned before the bit can be released. Accordingly, the key must be used again to secure a replacement bit in the collet. The “key” system is inefficient because the key can be easily misplaced among debris that is common to every workplace, thereby hindering a user's efforts to replace bits and finish their job quickly.
Therefore, it would be advantageous to have a collet system that removes the necessity of a separate wrench or key, thereby providing a more efficient manner of replacing bits.